Cash_Loans

Cash Loan Types - Which is the best option for you?

Got a couple of minutes? You’ll find everything you need to know right here.

At Cash Converters, we have cash loans for all kinds of reasons and for all kinds of people - even those with a history of bad credit. 

And whether it's a loan to help pay your child's music lessons or to fix your car, we can help.

Cash loans on your terms.
What are you waiting for?

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Cash Advance Loans

Cash Advance loans are small amount cash loans that are usually repaid over a few weeks. Our Cash Advance loans:

  • range from as little as $50 to $2,000
  • are repaid over a term of 4 - 6 weeks
  • available instore only

To apply for a Cash Advance loan, visit your nearest store

Personal Loans

Personal Loans are generally larger loans that are paid back over a longer period than a small amount Cash Advance loan.

Small Personal Loan:

  • start from $400 and goes up to $2,000
  • are repaid over 12 months

Medium Personal Loan:

  • start from $2,050 and goes up to $5,000
  • are repaid over 12 months

It only takes around five minutes to apply online. As soon as your application is approved, and as soon as you have signed your electronic Loan Contract, we'll transfer the cash to your bank account. Usually, the funds are available in your account the next business day. 

Finally, a word about our loans

We offer two types of loans, SACC and MACC.

SACC stands for Small Amount Credit Contract, which the National Consumer Credit Protection Act defines as follows:

"A loan amount of no more than $2000 set up to be repaid over a term of not less than 16 days and not more than one year." 

MACC stands for Medium Amount Credit Contract, which the National Consumer Credit Protection Act defines as follows:

"A loan amount of no more than $5000 set up to be repaid over a term of not less than 16 days and not more than two years." 

The Cash Converters MACC loan term is up to 12 months.

Fee Disclosures

Our Small Personal Loans incur an Establishment Fee equalling 20% of the amount borrowed and a monthly fee of 4% of the amount borrowed. Our Medium Personal Loans incur and establishment fee of $400 and interest at an annual cost rate of 48%. For example, a small loan of $1000 over 9 months has fees and charges totalling $560 (1 x $200 + 9 x $40) therefore a total repayment of $1560. The maximum annual percentage rates on our loans is 162.5%. The minimum loan term is 4 months and a maximum of 12 months for small amount loans and 24 months for medium amount loans. Online applications have a default 9 month term. Our loans are repayable in weekly, fortnightly or monthly instalments. Loans can be settled early with no penalty and fees will only be charged whilst there is an outstanding balance on the loan, hence early settlement will reduce the amount payable on the loan.